Stimulus Package: Voice your views on The American Recovery And Reinvestment Act
Posted: Sunday, April 19, 2009
by Mark Fleagle
oldfishinghole.com
On February 17th of 2009 the 111th congress signed into law The American Recovery And Reinvestment Act For an Amazing 787billion Dollars! You are probably wondering right know , where is all this money going? Well here's a summary in dollars where this money is allocated to go:
In Billions Of Dollars
81$ Protecting The Vulnerable
144$ State And Local Tax Relief
288$ Tax Relief
43$ Energy
59$ Health Care
111$ Infrastructure And Science
8$ Other
=============================
787$
Lets sound off on our views of the "American Recovery And Reinvestment Act" We all commonly know it as the "stimulus package" To access this information directly you can visit the government website, and Wikipedia website links I have provided below in my Bio information area. I
personally have very mixed views on the whole act. I have grave concerns about the projected budget deficits from this very large spending act. I do believe that President Obamba is trying his best to jump start our economy, and every one of the programs that has been slated for money distribution desperately needs this money, but this bill is really rolling the dice and gambling on this
act. to succeed.
The economists have projected that the following budget deficits will occur in the upcoming years. Here are the estimated projections for the next two years. The new estimate for the 2009 deficit is $482 billion, While President Obama had predicted a deficit of nearly $1.2 trillion for 2010 The question is can the country survive this much debt? I would love to hear peoples views on this
subject. It effects all Americans both Rich and Poor! Please comment on this article.
Mark Fleagle Expert Author At Ezinearticles.com and A Silver Member at
Searchwarp.com
Please refer use the following links to the "American Recovery And Reinvestment Act" If would like more information.
http://www.recovery.gov/ ,
http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009
pdf of the official signed bill
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.pdf
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Top-level comments on this article: (2 total)Mark, I've voiced it all and now reiterate in the Boob of Bob's. Best wishes oh and yes follow the money and all answers provided
Mark,It's a bill in its support that is strictly dictated by party line. All Republicans voted "no" Democrats with the exception of a few voted "Yes." Democrats want to spend; Republicans want to cut taxes and spending. But the effects have somewhat backfired for the Dems with the biggest losers being states and low income workers with major gains made for the elderly and high income tax-payers.But this is nothing new or surprising. The only reason it passed is because of the Dems being in the majority not that it's a solid idea. Personally, I worked in the private sector as a wolf among sheep in academia for years. Time and again, I saw teachers putting up their hands for a handout while conservatives went out and earned their handouts. I saw that I couldn't make my way and that there are great inherent problems in secondary and post-secondary eduction, so much so that I took capital risk to begin a business to make amends.
Reps desire to feed or fix the economy by allowing business to thrive so it can create more jobs and housing, while the Dems desire to fix things by spending or, in actuality, borrowing.Economists opposing Obama state that "More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s... To improve the economy, policymakers should focus on reforms that remove impediments to work [job creation], savings, investment [business creation], and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth" By doing so, this type of stimulus does not create debt but income flow.I only hope that our economy will begin to thrive built upon the policies these economists describe; otherwise, there is going to be an awful lot of debt to be paid back over a great number of years. We can only pray at this point. Thanks for the article to raise awareness.
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